Monday, November 12, 2012

How To Build A Successful Brand?

About the Author: CEO/Founder of Nuvento ( a technology firm
that specializes in Business Intelligence and Software Architecture.)

Image Source: laurawilsononline.com

Every once in a while organisations go for a brand revamp where the focus is to inculcate the feel of something new which was not existing before. Brand building is vital for organizations with large-scale business operations because brands are valuable and more powerful than products.

Products and their popularity are restricted to their life cycle, but because brands convey quality and credibility and create a relationship with the users, they outlive products and continue to live on in the consumers’ minds and hearts.

Then and Now

Earlier, branding was the sole responsibility of the marketers and PR personnel who used like print, OOH, radio and TV advertising for promotions. Today, however, while they continue to exploit these traditional mediums, marketers are also discovering new interesting avenues like the Internet and social media to popularize brands.

I think this shift in medium is because organizations are realizing that customers-endorsement and customer loyalty plays an important part in strengthening their brand. And the best way to build customer loyalty for a brand is by effective customer engaging fuelled by direct interactions with them on various social media platforms.

Current Trends and Strategy

Innovative organizations are following the changing consumer behavior and their perceptions, and are adapting their branding strategies accordingly. Successful modern branding strategies involve active customer engagement and stakeholder involvement. Keeping a brand alive in this uncertain and unstable economic situation is not easy; yet, business enterprises – either new or already established – can leverage their businesses if they indulge in careful and smart branding for their products.

Branding is a challenge, which requires a sophisticated strategy – something that I think should be a combination of creativity and business acumen. For me, the best branding so far has always been based on two things – a strong idea and effective execution of that idea. Organizations, which recognize this can, build smart brands.

And what is the best way to do it? My suggestion is to make generous and effective use of the modern digital technologies and social media and social networking sites in particular which create a virtual relationship between your brand and the consumers where you can catch hold of their nerve and get effective cues.